Common use of Payment of Shares Clause in Contracts

Payment of Shares. At or prior to the time of delivery of any of our shares you will pay or cause to be paid to the Custodian, or direct the selling Sub-Agent or Dealer to pay, for our account, an amount in cash or, subject to approval by the President or Vice President of the Fund, in securities equal to the net asset value of such shares. In the event that you pay for shares sold by you prior to your receipt of payment from purchasers, you are authorized to reimburse yourself for the net asset value of such shares from the offering price of such shares when received by you.